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Security and protection essential ! You will be sure about this for your home and funds once you read the funder's pledge

The Home Equity Release facility I recommend incorporates some very important safeguards.  I would not be happy to recommend any such scheme that did not include such "Blue Chip" protection as set out below.

Sentinel Ltd provides on their website http://www.sentinelrs.co.nz/ and all their documentation -

The Sentinel Lifetime Loan Pledge

We recognise the trust that those taking out the Sentinel Lifetime Loan have placed in us.  In return, we make the following promise ...

Pledge One

There is no requirement to make any loan repayments during the term of the loan.

Pledge Two

Your home will remain the place you live in for as long as you choose.  When it is time for you to leave your home our No Negative Equity Guarantee means that, so long as all conditions of the loan have been met, what you will be required to repay following your death or moving to permanent long-term care will not exceed the sales proceeds of the property.  There is no extra charge to you for this guarantee.

Pledge Three

It is important that you are absolutely happy with all aspects of the Sentinel Lifetime Loan.  For this reason your legal work will always be performed by the solicitor of your choice who will then work with us to make sure everything has been fully explained and discussed.  If at any time you want to contact Sentinel regarding the loan or any related matter we'll be ready and waiting to help you.

Sentinel is also a member of  SHERPA see website  http://www.sherpa.org.nz

SHERPA - The Safe Home Equity Release Plans Association - is a not-for-profit association supported by New Zealand’s leading providers and distributors of Home Equity Release Plans.

SHERPA is dedicated entirely to the protection of plan-holders and the promotion of safe home equity release plans.

The SHERPA Code of Practice includes the following requirements for members in dealing with New Zealand seniors, their families and their advisers -

•   Treat all borrowers with respect and dignity.

•   Ensure that all plans carry a clear and transparent "loan repayment", "no negative equity" or "non-recourse" guarantee.  That is, the borrower(s) will never owe more than the net realisable value of their property, provided the terms and conditions of the loan have been met.  The guarantee will include guaranteed occupancy for life, no requirement to repay until ceasing to occupy and transferability without penalty to another property that meets lending criteria.

•   Strongly encourage borrower(s) to discuss the transaction with family members and to seek independent financial advice from a suitably qualified financial adviser.

•   Ensure that the borrower(s) obtains independent legal advice performed by the solicitor of their choice.

In light of these pledges and obligations, I am satisfied that sound principles have been followed by Sentinel in the design of their Home Equity Release programme.  It is this, in addition to the integrity of allDirectors and Management and Staff I have encountered, that gives me confidence in the safety of Sentinel's Lifetime Loan.

Tim Leitch Retirement Income Advisor Sentinel Accredited Adviser Phone  +64 9  4491750

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